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THREAD: My digital collecting strategy:
When buying digital art & collectibles there are a few things to bear in mind.
1. Who is the creator and what is the purpose?
2. What is the collectability of the art?
3. Will it retain value even in a down market?
When buying digital art & collectibles there are a few things to bear in mind.
1. Who is the creator and what is the purpose?
2. What is the collectability of the art?
3. Will it retain value even in a down market?
Thus you must seek unique art from up and coming creators/brands first.
You must also seek digital items with strong collectibility and game theory behind them.
There are three primary elements to this.
You must also seek digital items with strong collectibility and game theory behind them.
There are three primary elements to this.
First: form, color, shape, and function.
Is the piece dynamic and beautiful? What is its function if it’s a game item? Is it’s look or function universally appreciable, or will it alternatively appeal strongly to a niche audience?
Is the piece dynamic and beautiful? What is its function if it’s a game item? Is it’s look or function universally appreciable, or will it alternatively appeal strongly to a niche audience?
Second: A great story.
Stories sell. Is it the first ever art or NFT produced by the artist? Is it a character in a game with great backstory? Does making the piece have some unique method or precedent? Did the artist/character depicted have great personal triumph to overcome?
Stories sell. Is it the first ever art or NFT produced by the artist? Is it a character in a game with great backstory? Does making the piece have some unique method or precedent? Did the artist/character depicted have great personal triumph to overcome?
Third: Would a collector want it?
Things that come to bear are rarity, part of a series, art being signed, and the art/piece otherwise unique in some way that will make it highly desirable. Unique abilities, numbered editions, embossed effects for example.
Things that come to bear are rarity, part of a series, art being signed, and the art/piece otherwise unique in some way that will make it highly desirable. Unique abilities, numbered editions, embossed effects for example.
You follow this like of thinking so you can accumulate art & collectibles that have both meaning to you personally, and value on the market. This is equally a game of passion and a game of value. Nothing you do as a collector changes that.
My goal is to concentrate value. Build a collection of things I both love and are timeless, that will accrue value. So I may have upwards of 100 pieces at any given time, but will never sell 20 or 30. In this way I maximize all aspects of the experience.
I maximize my ability to love the art, my ability to own it and appreciate it, and my ability to profit as it’s needed.
I hope this brief write up helps both collectors and artists on their respective #NFT journeys, which do so often overlap.
Cheers
I hope this brief write up helps both collectors and artists on their respective #NFT journeys, which do so often overlap.
Cheers
